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IN RE A&M FLORIDA PROPERTIES II, LLC

Case No. 09-15173 (AJG), Adv. Pro. No. 09-01162 (AJG).

In re: A&M FLORIDA PROPERTIES II, LLC, Chapter 11, Debtor. GFI ACQUISITION, LLC, et al. Plaintiffs, v. AMERICAN FEDERATED TITLE CORPORATION, Defendant.

United States Bankruptcy Court, S.D. New York.

April 7, 2010.

Attorney(s) appearing for the Case

GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP, Attorneys for the Plaintiffs, New York, New York, By: Kevin J. Nash, Esq., J. Ted Donovan, Esq.

ARNSTEIN & LEHR, LLP, Attorneys for Defendant, Fort Lauderdale, FL, By: Franklin L. Zemel, Esq., Stephen C. Hunt, Esq.

OPINION GRANTING, IN PART, AND DENYING, IN PART, DEFENDANT'S MOTION FOR SANCTIONS

ARTHUR J. GONZALEZ, Bankruptcy Judge

On March 24, 2008, Plaintiffs, GFI Acquisition, LLC ("GFI") and related entities,1 sued Defendant American Federated Title Corp. ("American Federated") in Florida state court for breach of a $41 million Purchase and Sale Agreement ("PSA") executed on July 3, 2007. See Compl. ¶ 68. GFI agreed to purchase...

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